CBA chief economist Michael Blythe has released a comprehensive 73-page PowerPoint presentation on the impact of the budget across all facets of the economy.
But two slides stand out suggesting there is a lot or room for upside surprise in future budgetary positions than Treasury and Government forecasts suggest.
With regard to the cash balance, it seems the outcomes will be better than currently forecast, according to Blythe. While we’re not sure what “jiggery pokery” is, the message is clear – a bit of number-fudging has occurred.
It’s the same story with the economic forecasts, according to Blythe:
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